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27 sats \ 2 replies \ @siggy47 OP 26 Feb \ parent \ on: Paolo Ardoino On Why Tether Is Necessary bitcoin
It's a theory I haven't given much thought to, probably because it seems illogical on its face to me. I'll think about it. Let me ask you- do you therefore embrace the whole Saylor/etf thing to get to this end, regardless of your commitment to self custody?
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196 sats \ 0 replies \ @justin_shocknet 26 Feb
It's unintuitive because other fiats more fictional than the dollar and the processes is therefore non-linear
The dollar is less of a fugazi than others because the world's debt is denominated in it, making it the world reserve while other fiats are basically vanity tokens
Now project out to a world where Bitcoin is the world reserve currency, what had to happen between the former and latter state?
Fiats would fall like dominoes, not all in one-shot, so it stands to reason there would always be a "last" fiat. Obviously the last fiat would be the strongest, thus dollarization is expediting us to that state.
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41 sats \ 0 replies \ @fiatbad 26 Feb
It's a theory that is logical to me.
But that doesn't mean we should embrace it and root for it (as Bitcoiners). We can leave fiat NOW if we wanted to. Seems many here just don't want to.
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